1945

Economic growth in El Salvador remained sluggish in 2002. Gross domestic product (GDP) increased by 2.2%, which, while it represented a slight upturn with respect to the 1.9% growth recorded in 2001, resulted in the virtual stagnation of per capita GDP, for the third straight year, at just under US$ 2,000. Family remittances edged slowly upward and continued to play an important role in bolstering private consumption and the external accounts. The almost complete dollarization of the money supply helped to keep interest rates and inflation low.

Related Subject(s): Economic and Social Development
Countries: El Salvador
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